Cascade: No. 57, Spring 2005

District News

PNC Bank, N.A. is making up to $100 million available for below-market loans to businesses creating and retaining jobs in New Jersey, while the New Jersey Economic Development Authority (NJEDA) is providing up to a 50 percent guarantee of each loan with a maximum exposure of $10 million. Loans of $100,000 to $2 million are being made to businesses with annual sales up to $20 million in the program, known as the New Jersey Business Growth Fund. For information, contact Paul Presti, central New Jersey territory loan product manager for PNC, at (732) 220-3300 or paul.presti@pnc.com; www.pncbank.com/njgrowth or www.njeda.com.

The Housing Alliance of Pennsylvania has released Reclaiming Abandoned Pennsylvania II, From Liability to Viability: A Technical Resource Guide for Action, which provides municipalities with the latest research and best practices dealing with residential abandonment with an emphasis on tools that are available under Pennsylvania law. Co-authored by Liz Hersh, the alliance’s executive director, and Karen Black, a consultant, the report may be seen at www.housingalliancepa.org. Written copies are also available from the Alliance (info@housingalliancepa.org or call (215) 576-7044).

The Philadelphia Fed’s Community Affairs Department has published a technical brief on USDA Rural Development’s Community Facilities Guaranteed Loan Program, which can be used in rural areas with a population of up to 20,000. To see the brief, go to www.philadelphiafed.org/cca/capubs/tbriefs.html; for written copies, contact Yvette Cooper at yvette.cooper@phil.frb.org.

Mark Pinsky, president and CEO of the National Community Capital Association, has been selected to chair the Federal Reserve Board of Governors’ Consumer Advisory Council, which advises the Board on the exercise of its responsibilities under the Consumer Credit Protection Act and other matters.

Joe Murphy has retired from his position as regional community reinvestment officer for M&T Bank; he has a part-time position as executive director of the Community Lenders Community Development Corporation and is a volunteer with several nonprofits with which he worked.

NCALL Research, Inc., Dover, DE, has become certified as a community development financial institution by the CDFI Fund.

The Reinvestment Fund (TRF) has started a Pennsylvania Fresh Food Financing Initiative to increase the number of supermarkets or other grocery stores in underserved communities across the state. TRF is working in partnership with The Food Trust and the Greater Philadelphia Urban Affairs Coalition. For information, contact Hannah Burton at (215) 568-0830 or hburton@thefoodtrust.org; www.trfund.com/financing/fffi/fffi.htm.